No Workers? Goodbye, Development
A labor shortage in Pennsylvania means that new industrial development is going to shift from Central PA to Maryland's Harford and Cecil counties, we learned from JLL's Mark Levy (right, with Miles & Stockbridge's Jeffrey Seibert) at Bisnow's recent Baltimore State of the Market event. (If your kids are sitting on the couch all summer, tell them to pick up a hammer, someone needs them.) Harford vacancy has fallen from 26% to 9% in 18 months, thanks mostly to 250k SF and larger leases.